Government debt should be managed by maintaining fiscal discipline in good times to prepare for economic downturns.

“The key is to do it in the better times discipline yourself to prepare for the next downturn and one of the reasons that the whole of the West and Beyond the West in my view is in such a dangerous place today is we haven't done that we've got spending spending spending”

The speaker believes that the national debt is a concern that should be addressed through progressive taxation rather than cutting services for the public.

“But in the past when we have had debts like this, a national debt like this, the first place Congress always went, the first place Congress always went was to progressive taxation. People who make a lot of money should pay more.”